Stocks gyrate as Nvidia gives up opening gain: Live updates

Traders enactment connected the level of the New York Stock Exchange during greeting trading connected Oct. 8, 2024.

Michael M. Santiago | Getty Images

Stocks opened successful the greenish connected Thursday, led by a turnaround successful Nvidia's banal price.

The S&P 500 opened much than 0.3% higher, portion the Dow Jones Industrial Average climbed astir 96 points, oregon 0.2%, soon aft the marketplace open. The tech-heavy Nasdaq Composite gained astir 0.5%, meanwhile.

— Pia Singh

Initial play applications for unemployment security came successful astatine 213,000 for the week ended Nov. 16, down from past week's revised 219,000 claims, the Dept. of Labor said. Wall Street economists' statement estimation had been 220,000.

While the latest jobless claims numbers showed the labour marketplace astatine slightest holding steady, if not strengthening, 2 different measures retired Thursday whitethorn awesome nascent economical weakness.

Continuing claims for jobless security climbed to 1.908 cardinal from 1.872 cardinal past week and 25,000 much than the Street's estimation of 1.883 million. And the Philadelphia Federal Reserve manufacturing scale of enactment successful the portion slowed to -5.5 successful November against economists' estimation of +6.9 and October's +10.3.

— Scott Schnipper

Some stocks are making moves successful the premarket:

• Snowflake – Shares surged much than 21% pursuing the company's better-than-expected third-quarter results and beardown guidance. Snowflake posted adjusted net of 20 cents per stock connected gross of $942 million. Analysts surveyed by LSEG were looking for 15 cents successful net per stock connected gross of $897 million.
• Palo Alto Networks – The cybersecurity banal fell 2%  aft the institution issued fiscal second-quarter guidance mostly in-line with expectations. Palo Alto Networks guided for adjusted net of $1.54 to $1.56 per stock connected gross of $2.22 cardinal to $2.25 billion. That was astir successful enactment with the Street's forecast of $1.55 per stock successful net and $2.23 cardinal successful revenue, per FactSet. Palo Alto besides announced a 2-for-1 banal split.
• Nvidia – Shares of the chipmaker fell astir 1% contempt its third-quarter net results topping Wall Street's expectations. The institution posted 81 cents successful adjusted net per stock connected gross of $35.08 billion, portion analysts had penciled successful 75 cents successful net per stock connected gross of $33.16 billion, according to LSEG.

Read here for the afloat list.

— Sean Conlon

Ulta Beauty could person a agelong roadworthy to a afloat betterment successful the cosmetics conception aft absorption issued a "hard reset" of expectations past month, according to William Blair.

The steadfast downgraded the cosmetics banal to marketplace execute from outperform successful a Wednesday note.

"We besides support that determination is simply a longer-term hazard embedded successful the quality class migration online, which is perchance successful the astir damning signifier arsenic it relates to retail cannibalization and drives heightened, much dynamic competition," expert Dylan Carden said.

"At existent valuation against what we judge is our much apt net outcome, we judge shares are comparatively reasonably valued up of respective quarters of uncertainty with hazard of much sustained class deceleration and longer-term online cannibalization risk," the expert added.

— Brian Evans

Bitcoin breached the $98,000 level for the archetypal clip Thursday arsenic investors continued pricing successful a 2nd Donald Trump presidency.

The terms of the flagship cryptocurrency roseate arsenic precocious arsenic $98,367.00 successful aboriginal greeting trading. Crypto speech Coinbase precocious 3% premarket, portion MicroStrategy, which trades arsenic a bitcoin proxy, jumped 11%. Mining stocks roseate arsenic well, with Mara Holdings up 9%.

This determination was triggered by a spike successful backing rates and unfastened involvement connected the futures marketplace during Asia trading. Around the aforesaid time, premiums successful spot markets fell, according to information from CryptoQuant. Bitcoin's caller ascent has besides triggered a question of abbreviated liquidations – much than $88 cardinal successful the past 24 hours, according to CoinGlass – sending the terms further up overnight.

— Tanaya Macheel

Nvidia shares were down 3% successful the premarket aft the chipmaker reported fiscal third-quarter results.

The institution earned an adjusted 81 cents per stock connected gross of $35.08 billion. Analysts polled by LSEG expected a nett of 75 cents per stock connected gross of $33.16 billion. To beryllium sure, revenue maturation slowed from erstwhile quarters.

NVDA falls

European stocks opened level Thursday arsenic planetary marketplace sentiment dipped.

The pan-European Stoxx 600 was marginally higher astatine 0.02% successful opening trade, arsenic large bourses and sectors diverged. Insurance stocks led gains, up 0.69%, portion household goods dipped 0.62%.

The U.K.'s FTSE 100 scale was 0.22% higher astatine 8,103, Germany's DAX up 0.16% astatine 19,034, France's CAC down 0.19% astatine 7,185 and Italy's FTSE MIB 0.13% little astatine 33,202.

— Karen Gilchrist

Asia-Pacific markets fell Thursday, with investors watching tech shares successful the portion aft chipmaker Nvidia reported better-than-expected results.

All eyes were besides connected Indian stocks related to billionaire Gautam Adani, aft the seat of India's Adani Group was indicted with others successful New York national tribunal connected charges related to a monolithic bribery and fraud scheme.

Shares of Adani Group companies plunged, with flagship Adani Enterprises down 19%, portion the institution successful the oculus of the storm Adani Green Energy tanked 18.09%.

Most different markets successful the portion slipped, with Japan's Nikkei 225 falling 0.85% and starring losses successful the region.

— Lim Hui Jie

With much than fractional of the trading week present successful the rearview mirror, the Dow is connected way to underperform.

The blue-chip scale has shed 0.1% since Monday. On the different hand, the S&P 500 and Nasdaq Composite person risen 0.8% and 1.5%, respectively, week to date.

— Alex Harring

These are immoderate of the stocks making moves aft hours:

• Nvidia — The artificial quality darling slid astir 2% contempt exceeding expectations for the third quarter and providing beardown guidance. 
• Snowflake — The unreality banal soared 18% aft beating earnings expectations for the 3rd 4th and issuing beardown guidance. 
• Jack successful the Box — The edifice concatenation tumbled 5.6% aft gross for the fiscal 4th quarter came successful beneath expectations.

See the afloat database here.

— Alex Harring

Futures tied to the Dow, S&P 500 and Nasdaq 100 were each adjacent level soon aft 6 p.m. ET.

— Alex Harring